Private Credit BDCs’ 2028 Maturity Wall Poses Risk, Moody’s Says

Private credit funds with outsized exposure to software and tech loans face rising refinancing and credit risks as a wave of debt maturities loom from 2028, according to Moody’s Ratings.

Business development companies, which lend directly to middle-market businesses, may see “a particular challenge” for leveraged software borrowers amid fresh concerns about inflation and the threat of AI disruption, according to a report released Wednesday by the credit-rating company.